The impact of ethical issues on accounting and financial decision-making in corporate organizations.

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Final Research Paper Outline

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Final Research Paper Outline

Topic: The impact of ethical issues on accounting and financial decision-making in corporate organizations

Introduction

The concept of ethics

  • Ethics is concerned with the choices that individuals make. Also, it is associated with values, norms, as well as principles.
  • The link among professional, personal, and societal values to ethics.

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Ethics associated with accounting and finance

  • Code of professional standards
  • Training accounts to be conversant with accounting morals

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Significance of ethics in accounting and finance

  • Financial statements are vital in making informed decisions in corporate organizations, and thus, accountants need to prepare true financial statements.

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Ethical issues associated with accounting

  • Underreporting of income
  • Falsifying documents including bank account records, tax returns, and immigration documents
  • Acts that can be considered to be geared towards falsifying documents
  • Creative accounting

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Finance ethical issues

  • Insider trading whereby workers and directors associated with corporations buy and sell stocks belonging to their firms.
  • Campaign financing. This is the practice associated with firms raising funds to support political parties.

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Methods of preventing both finance and accounting ethical issues

  • Implementing GAAP (generally accepted accounting principles)
  • Effective utilization of accounting standards
  • The management playing a bigger role in overseeing individuals tasked with accounting and finance. This can be done by implementing rules and policies that everyone needs to follow.

Conclusion

The issue of ethics in corporations driven by the occurrence of many scandals that jeopardize accounting as well as corporate governance. Thus, ethics forms an integral part of the accounting profession and decision making.

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